With the digital revolution now in full swing, new products are being constantly launched, developed and upgraded especially in the automotive, consumer electronics, medical devices, and telecom industries. These developments have opened up vast business opportunities for engineering services companies which play a critical role as partners of tech companies to enable them to meet their goals of incorporating quality, safety and reliability into the design and manufacture of their products.
With the demand for engineering services also coming in from abroad, creating an outsourced services industry, working in the newly emergent product engineering services industry is an attractive option for graduates of engineering and technology colleges
According to Astute Analytics, the aggregate revenue of engineering services outsourced worldwide is likely to skyrocket from $1.5 trillion to $6.8 trillion by 2031. This boom is expected to benefit Indian engineering firms in a big way with India emerging as the most preferred destination for engineering services outsourcing, followed by the US and China.
This story is from the May 2023 edition of ParentsWorld India.
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This story is from the May 2023 edition of ParentsWorld India.
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